Next week, one of the most highly touted electric car companies will go public. Tesla Motors will debut with an IPO on the Nasdaq under the ticker TSLA in order to help raise cash for its expansion. The company hopes to raise around $180 million in order to expand manufacturing capacity to produce the Model S sedan electric car. They are pinning their hopes on the $50K sedan in order to move the company to profitability within the next three years.
Like most lithium battery and electric car companies, there is quite a bit of hope, but no profits to speak of. It's all about the future. While Tesla is a company with lots of big names behind it, including the tax payer to the tune of hundreds of millions, the success of Tesla is anything but guaranteed. Hundreds of millions have already been burned through and sales of the Roadster continue to diminish as the novelty wears off. No doubt, Tesla Motors will be a very interesting company to watch as it rides the electric car revolution, but investors might be better off on the sidelines for now.
Filed under Tesla Motors by on Jun 25th, 2010. Comment. 
More details are emerging about the bells and whistles of the soon to be launched Chevy Volt electric car such as remote control capabilities via a smart phone. The mobile functionality which will be powered by OnStar will be available on the Droid, the iPhone and Blackberry smartphones.
Chevy Volt owners will be able to check how much of a charge is left on the car as well as a schedule or start a charge (assuming it's plugged in). Alerts can even be sent from the car to email about charging status .. very cool. Drivers can also lock and unlock the doors and start the AC or heating from up to a mile away.
The smartphone remote control features certainly won't be limited to the Chevy Volt. Nissan, Toyota and Ford are expected to provide similar functionality in their electric vehicles
Filed under Chevy Volt by on Jan 6th, 2010. Comment.
The Tango electric car isn't one that garners much attention. Most are familiar with Tesla, Chevy Volt, Zap and maybe even Fisker, but the Tango electric car which is built by Commuter Cars Corp of Spokane, WA offers something a bit different by offering the speed and agility of a motorcycle while offering the safety and performance of a car. In fact, the car is narrower than some motorcycles, so lane splitting where permitted is legal! In terms of performance, the company claims it can achieve 0 – 60mph in 4 seconds and get up to a top speed of 130mph. In terms of safety, the electric car offers a roll cage certified for race cars traveling 200mph, but that's not going to help much if you're rear ended by a Hummer!
If you're thinking you'd like to purchase one of these gems, think again. In an article at CNN a few weeks ago, it was stated that the car costs in the neighborhood of $120K and their is a waiting list to get one. Apparently George Clooney is a fan and was the first to purchase the vehicle several years ago. The company hopes it can move into mass production and get the cost of the vehicle down to under $20K within a few years. The company counts Sergey Brin of Google as an investor. I look forward to following this company in the coming years and wish it much success.
The Tango Electric Car In Action
Filed under Tango Electric Car by on Nov 5th, 2009. Comment.
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